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Morocco gets EIB loan to finance motorway projectsRabat - The European Investment Bank (EIB) granted Morocco a loan of 2.6 billion Moroccan dirhams ($342 million) to finance the expansion of the Casablanca-Rabat motorway and the construction of the 41-km motorway that bypasses Rabat.
The agreement related to this loan, the most important ever granted by the BEI to the Kingdom, was signed on Thursday in Rabat by the vice-president of the BEI and the managing director of Morocco’s Société nationale des Autoroutes du Maroc (ADM). The amount of the loan is half the overall cost of the project, which the two parties deem will help relieve congestion and guarantee security to the motorway traffic at the level of Casablanca-Rabat. Both parties voiced satisfaction with the quality of bilateral cooperation relations, and expressed their shared will to further boost them. The EIB vice-president told MAP the year 2009 will see a record volume of financing with ¤540 million, 100% up from 2008. “This financing attests to the trust placed by the European Union in Morocco,” he said.
Last modification
10/23/2009 02:12 PM.
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